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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
 It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of sell offs in the technology sector.
According to George Lazaridis, Head of Research & Valuations of Allied Shipping, at the face of it, it may well sound as if this is something restricted to an industry which is disconnected in its most part from the shipping industry. However, in part these tremors being noted in the form of price drops in equities are tied in part to the overall friction being seen in global trade. It has been just over two weeks since US President Donald Trump announced import tariffs on steel and aluminum, and the geopolitical aftershocks are still being felt. The period just after the announcement seems to be mainly characterized by a number of countries, including but not limited to Australia, the European Union and Japan, pushing to win exemptions from these newly announced tariffs. Yet, things seem to be taking a darker tone now, with a number of these countries now vowing to act through reprisal levies and tariffs on US imports.
George Lazaridis further noted that, as an overall read-through, the main note that most of us in shipping have taken is that these current tariffs have a limited direct effect on shipping markets. China, which is the leading producer of both these commodities has a minute share in the overall imports entering the US, despite the fact that the US President has focused on China in his usual populist rhetoric with regards to trade. China’s exports of steel and aluminum to the US amount to only just 0.03% of its GDP, while it only makes up around 4% of total steel imports into the US. The biggest threat has been to the US market’s main suppliers, which are the European Union, Canada, S. Korea, Mexico, Brazil and Japan, with Canada and Mexico having for the moment escaped the current levies as part of the ongoing negotiations with regards to the NAFTA trade agreement.
George Lazaridis Allied noted that, the majority of the rest seem to be taking the option of retaliatory levies quite seriously, while despite China being relatively unaffected for the time being, they have also joined in the general discussion proactively, possibly taking this opportunity to proclaim themselves as defenders of free trade.
The risk of a wider trade war sparking off does lay in the realm of possibility right now, yet even if things were to escalate to such a level, the negative effects on shipping would most likely come in the form of gradual waves. Under such a scenario we would likely see most retaliatory tariffs and levies being placed on finished final goods, possibly causing a disturbance on the containership market first and limited to mainly this sector in the initial phase. It would take a while before we would see a gradual slump emerge on the demand for raw materials, as the overall slump in global demand for finished products would slowly push purchasing managers to cut back their requirements.
This all sounds like a dire scenario indeed and most would be in angst as to the actual probability of such a series of events pulling through, especially given that we have only just started to see a favourable environment emerge in terms of global trade. The general thought and hope for the time being is that to some degree the US President will back down having been brought to his senses in a similar fashion to how back in the early 2000’s George W Bush eventually backed down on his protectionist steel-tariff plan. Lets hope things aren’t taken too far too quickly and we miss the point of no return.
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Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
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